Smart Mining Market

At CAGR of 13.3%,Smart Mining Market is projected to reach US$ 23,055.4 million by 2028

The deployment of the solutions for smart mining aid the mining companies to minimalize the labor cost and increase the efficiency of production efficiency with the help of real-time communication &monitoring. By the implementation of advanced technologies, mining operators can expand their current wireless network of embedded sensors. For instance, the installation of automation software enables the operator to monitor static and moving assets remotely and program automated interaction between both. With the rising adoption of sensor technology, IIoT, and smart devices, the demand for these solutions has tremendously grown across the regions. Evolution of the smart mines and increased spending of ICT in mining industry is significantly driving the overall growth of the market. The market is projected to grow at a modest pace.

ABB Ltd., Caterpillar Inc., Rockwell Automation AB, Hitachi, SAP SE -Prominent Market Participants in Smart Mining Market

ABB Ltd., Caterpillar Inc., Rockwell Automation AB, Hitachi, SAP SE are some of the key players that were analyzed during the course of this market study. In addition to these players, multiple other leading global, regional and local market players, emerging companies, market disruptors, and niche market players operating in the market ecosystem were studied and analyzed during the course of this study to get a holistic view of the overall market.

Most of the market initiatives were observed in North America region, which have a high potential of smart mining providers. Few of the important market initiatives and product developments from the industry are mentioned below:

Date Development Region
2021 ABB has signed a Memorandum of Understanding (MoU) with Hitachi Construction Machinery to share their expertise and collaborate in bringing solutions to market that will reduce the greenhouse gas (GHG) emissions associated with heavy machinery in mining. Europe
2021 Hexagon’s Mining division partnered with Fatigue Science. Combined with fatigue’s real-time operator alertness and collision avoidance solutions, Hexagon will now be able to help customers further protect and optimize their people and equipment with Fatigue Science’s Ready platform for predictive fatigue management. Europe
2020 Hitachi Construction Machinery Co., Ltd. announced a collaboration with Whitehaven Coal, Australia’s largest independent coal miner, to design and deploy an Autonomous Haulage System to assist the company’s mining operations in North West New South Wales. North America

 

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